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tv   Varney Company  FOX Business  January 21, 2019 9:00am-12:00pm EST

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we're missing a character lesson we could all learn. i want to say where was chaperon to say this is not what you do and i think that's what's missing here and sad that we sit here. >> and we're here to say to people online -- get the whole story but character lesson for those kids. >> i love it stuart take it away charles payne is in for stuart hey chals i hope you have something to say about this. i want to hear it. >> character lesson or for adults much more than kids you're right. ia lot to say about this. >> shame for people who call this kid a high budding school shooter. i saw that. that was appalling. >> great seeing you great show you did a fantastic job dagen hi everyone i'm charles payne stuart is going to be back tomorrow as you know martin luther king day so our markets are closed but news is come fast and furious, in fact, we have self big stories is for you include big news out of china breaking overnight. their economy growing at the slowest pace in 28 year that
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should give president trump an american negotiators an upper hand or increase their utter hapgd with respect to trade talks scheduled for later this month. also government shutdown now in day 30 president trump offered to democrats deal over the wednesday and gets money for the wall and extended protection for dreamers for three careers but not taking the bait and accusing the hostage taking in a big fine coming for facebook. washington post reporting that regulators have met to discuss record setting final facebook over its privacy surveillances we have that and a whole the lot more covered for you. "varney & company" starts right now. ♪ while cnbc is on tape we're open for business. >> beyou can only get cnbc on old counsel tvs like that. you can get us every day we're open for business and, of course, taking the day off.
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hey let's check on futures because yes equity futures are trading and down to points on dow starting to creep back remember we have amazing week last week in part because of china, and now we've got additional breaking news coming out of china their economy -- it grew at slow pace since 1990. come on in jordan coming collapse of china author jordan how much does this in our hand when it comes to negotiations? >> it does because chinese economy is flowing and it is not growing at 6.6 pace that national bureau statistics claim. it is probably at 1.1 maybe even contracting as we saw in december. you have a university professor last month created sensation across china. china is growing at most at 1.67% maybe even contracting. look at the december consumption numbers. >> how come is it electricity consumption what is it that you've been a toibl see this and it takes, you know,
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organizations, other organizations a longer time to acknowledge this. >> you know that's a difficult question for me to answer. you should probably ask others why they got that wrong. >> you won't reveal your secret sauce here. but on friday -- reports that china offering a trillion dollar deal to erase to zero trade deficit 330 billion dollars to zero by 2024. one trillion is a lot of zeros this is a big part of what president trump wanted. how much more do you think they'll be willing to give because, obviously, this major olive branch going into that meeting at a end of the month. >> it is important to erase deficit but we have to remember what it critical that's theft of u.s. property the tariffs that everyone is talking about are those a remedy for that theft had is hundreds of billions of dollars a year. the critical issue fors us is protecting our technology. and if we can't do that, we don't have an economy of the future so it is good that we're seeing, you know, soybeans and mineral rest are of it but
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that's superficial. >> what would language look like on that and he papered deals before he did it with run-in with japan. he knows he knows how to put terminology together and it is verifiable as key component to all of this. >> you can't do that because theft is now baked into the plans he's made in china 2025 initiative to really dominate technology. the only way they're going to make it by 2025 is what we have so unfortunately i think we have disengage. >> so much more difficult with them at last count eight a countries are now at odds with huawei, many of them are -- seeking criminal prosecutions some aren baaing their 5 products others are questioning whether to use their equipment at all. this whole theft this whole technology particularly -- western technology and american
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and more specifically is come to light so, i mean, they just keact can't continue to get away with it anyway? >> i don't think they can because you look at 5 eyes -- four of the five countries are not importing huawei servers for their 5g networks canada has got to follow. so you're going to have all five of the five eye. but you're seeing this across the world. because people are starting to understand that huawei is really just an arm in communist party and we learn hours a that huawei phones in hong kong are automatically deleting all twitter posts, and all fire fox downloads this is on huawei phones this is just unacceptable. >>been unacceptable and unmanage haddable stay in here because i want to bring in strategic resource general districting manager and number on friday was a massive dud. a huge decline the lowest michigan consumer sentiment
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pretty good since president trump has been in office. what does that mean for retailers? >> means really tough 2019, 2020, into all gordon points that chinese consumer not only in the people's republic of china but paris, europe, gateway cities in u.s. drives luxury drives a lot of retail a lot of consumption. and this gordon reference priority broadcast china autosales and dealing with volvo stock prices down 45%. and yes, you know, maybe the price of soybean is up 3 to 4% but overall china consumption slows and u.s. consumption led by declining retail in the the gateway cities with people from china about are about russia, middle east, and latin america not spending in across europe. the chinese characters gordon reference for danger and tnts the same thing and we've gone
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from opportunity to age for retelling -- in 2020. >> what about with respect to the domestic economy for instance this morning just about an hour ago call with new numbers from growth and lowered numbers but didn't change america or china it was a euro area down significantly looking at 1.6 from 1.9 so domestically how is american consumer doing should we take, should we take something is from that michigan sentiment number with respect to the strength of the american consumer? >> michigan sentiment number is still high but michigan number to your point charles is off bloomberg consumer comfort index is down. four months in a row, and what we're seeing is -- declining manufacturing and u.s. is david rosenburg is pointed out very well for a long period of time. and in talking to retailers, particularly in the border cities, with the government shutdown, tsa cutting become on
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hours, the government employees are spending less and as you pointed out very well on your show when -- when fed chair powell who is neither a businessman nor an economist really hurt this stock market. from october to december when the stock market fell people stopped spending it is december-january. >> trump and kim jong-un scheduled to meet for a second time and looks like it will be in vietnam. do you think we're moving clogser to some denuclearization with north korea, also acknowledging that even this morning there's some reports out that they've uncovered more -- uncovered more sites nuclear sites in north korea? >> we're not making progress and reason is that president trump is really sort of taken the pressure off the north koreans. we're allowing open sanctions violations not only by the north koreans but also by the the russians, chinese, and the south koreans. so kim jong-un he's not getting as much money as he wants but
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he's getting enough and until president trump lowers hammer, north koreans are going to continue their program potential >> when they meet in vietnam do they say listen, pompeo or you know, trump and pompeo and rest of the team say hey, listen you know we could have tightened screw a little bit more we didn't but you know how far they can go let's make this one count. >> well that's what they should say. i hope they say if. we need a couple of thingses from the north koreans which they haven't given us. should have given us a declaration of their it sous. also they should give us a timetable for dishonor m and they're not willing to do those things until they do those things what do they get in return for those things they hand that to president trump. what would kim jong-un want in return? >> well he would want end of sanctions and u.s. troops off a the peninsula and u.s. to give up its nuclear weapons there's no end -- >> what could we give in terms of -- some sort of a -- you know a negotiation? we would have to give something, though. >> i don't think it shall >> removal of sanctions. >>i don't think we have to.
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but whaing we will do is relieve some of the sanctions we shouldn't do it buzz north koreans aren't going to do an move in the right direction until they have -- >> they have to be really you have to -- really crush them. >> the kim regime does not return gesture for friendship and what they do is take advantage of it and that's unfortunately the story. >> thank you very much. appreciate it. folks let's check on futures market is the -- aren't open but futures are trading and off 120 at the worst point starting to gradually come back remember last week was just a phenomenal week with dow up 360 point on friday. president trump meanwhile, proposes a deal to end shutdown now he wants democrats to give him money for the wall and physical barriers on southern border. and exchange he's extending protections for the dreamers for another three years. well, democratic leaders are not biting they say his deal is, quote, hostage taking. meanwhile, the situation at air
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force get worse tsa says that the absence rate peaked could chaos push and throwing her hat into the ring and running for president? more varney right after this. what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price.
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to reports slapped facebook with the fine of 40,000 dollars per violation. so remembering just cambridge analytica 70.6 million people who have their -- so you're talking trillions of dollars we have breaking news coming up for facebook right now it is creating more jobs at a its international headquarters wait for it in ireland so could facebook just this is water cooler speculation and on my part could it all of a sudden say you know what, senator governor you're giving us a hard time we're boipg to pull sticks and ireland so who knows. so i'm telling you the way it could come down charles it won't be in trillions of dollar of fines because they have 41 billion in marketable securities and you know tank the my in multiple times over. they could really embarrass them if ftc wants to have a big fine you tngt notifies us of data breaches you didn't do internal audits like you were supposed to and maximum embarrassment and
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bigger fine of watch facebook growing and growing in ire lantd. that would be breaking news in it would be embarrassed given all of apology tours now presidt trump offering deal to the democrats to end shutdown. roll tape. s that our plan many other things straightforward daca, fair, reasonable and common sense with lots of compromise. if we are successful in this effort, if we can start the border project of remaking our immigration system for the 21st century. but in thes rejected, in fact, take a look at this tweet from senator chuck schumer or it was president donald trump are who single-handedly took away daca and tps protections in first place. offering some protections back in exchange for wall is not a compromise.
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but more hostage taking. i want to bring adam brandon freedom works president all right adam. continues to feel like we're hopelessly deadlocked do you see any sign that maybe this move the needle a little bit? >> i would hope see because it does seem like the president is doing things that he doesn't want to do with this this is the art of the deal the compromise and he's had laying it out there right now. obviously, he would prefer that the government is opened up and doesn't look good for anyone in washington when you have americans look to d.c. and it looks childish when republicans and democrats can't just pass a budget to keep the government open. but the big picture here is trump is take on problem that is decades old. decades in the making, and he's actually getting to the heart of the problem which is we have an absolutely broken immigration system. i don't know what a the goals are of our current immigration system. >> to speak about those getting to the heart of the problem just so for audience who didn't see 5.7 billion for physical barrier 805 million technology at the
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legal check points and help flow to flow of drug ares. of 800 million in humanitarian assistance. 782 million for new border agencies in law enforcement and 563 million for immigration court system, more judges, and this is huge, in fact, president trump taking a lot of krit are schism from the right who were saying hey this is to amnesty so taking a huge political risk are rejected out of hand by democrats. >> the democrats have a lot of -- they have a big problem with hypocrisy almost everything you megsed at some point in recent years democrats have supported or even voted for. so the barrier that solves this is not something that donald trump came up with. this is sthng that the border patrol agents have been asking for. the people who know what they're doing down there. >> so when you look at the democrats i think -- what is being really exposed here is they're being controlled by their social democrat or -- socialist democrat base and they're basically telling
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american people look we don't have to have any border and whaing really struck the president when he was running was when he said look we're a country or we're not. so -- the democrats here i think this might be the the beginning we might look back at history on this, this is the beginning of their overreach. >> and meantime now i think that dems are banking slower, slowdown with tsa agents. more difficulties there. we'll sway public opinion and add that additional pressure we'll see what happens. adam. >> that's hardly leadership to penalize american people. >> it is really tough tough to use them as a political pawn thank you very much. appreciate it. all right folks another look at equity futures again we're down 100. we were up over 300 on friday and up 9% almost 10 oct on russell alone a huge start to 2019. by the way, if you live in northwest you're going to want to stay inside today. it is brutally cold out there but there's an end in sight how much this chill will last right after this.
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it is brutally cold much of the northeast fox news senior meteorologist janice dean joins us now. janice just lounge how long is this cold going to last? >> just today and back to more seasonable ts i want to show you
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we have snow from this snow system up two feet over a foot in parts of new england the storm has exited but behind it, the coldest air of the season so we've got this arctic air mass that has settled in temperature difference from yesterday. oh, about 40 degrees if you look richmond, virginia 30-degree difference in new york city. and the windchill, the windchill is what get you. so below zero, minus teens, and then things will start to rebound as we get into tuesday to more seasonal temperatures. so here's your forecast today. 17 in new york but with windchill that mawk it is very dangerous people urged to stay inside and our next system arrives from the rockies an that's going to bring us the potential for another winter storm not only or for the midwest and northern plains but we could get some snow here in the northeast as well. charles we'll keep you up to date bundle up friends. >> thank you very much janice now to brexit germany chancellor angela merkel urging compromise between the european union and
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the united kingdom. what are details -- mings what's happening right now we're two and a half months away from the brexit deadline where angela u.k. would leave. eu about and germany is angela merkel is making round of phone calls other eu leaders say it could happen here's what's going on inside the u.k.. theresa may is now saying i will not deal with the opposition parties including jeremy corybn and hamper out a plan b, that vote for that may not come until february. so that charles it look like they're pushing up against the deadline and england could leave e.u. and hard a brexit and england would be a trading partner along with 50 other countries with the e.u. including china, russia and u.s. so a lot of phone calls going on theresa may is talking to angela merkel macron leader of ireland so here's other thing too merkel own party say we will not stop
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the u.k. from leaving the e. ument. hard break but here we come. thanks a lot. former starbucks ceo howard shuttle reportedly considering a run for white house in 20 20. and that is not sitting too well with some top democrats in home state of. we'll explain, next. hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪
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as martin luther king day markets are closed but let's check on futures one last time before they close, dow off 97 points, but let's face it been incredible strong year so or far and i want to bring in jeff, circle square alternative investments jeff, on friday all the major indices were up for thier, the dow is up 6% s&p up 7%. nasdaq up% and russell 2,000 is up 10%. that's a blistering start to this year. >> it has been a blistering start and there's a lot of reason ares that we have to be concerned going forward despite the fact that we've had a good start. a lot of it has been what, obviously, because jerome powell backed off this potentially hawkish stand he was taking, and there's a -- there's a sentiment that we're going to have some sort of resolution to the trade deal. my biggest going forward is that
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china has failed to acknowledge anything to do with the -- any guilt whatsoever in their theft of intellectual property i think that's going to stall this and if we doapght get something by march or start to get more progress than we've gotten i think market will give back again. >> what if there's some big chunk had of it has done and other part to your point, they say we're going to continue this. this is done we'll put it on side check and we're going to meet again in another three months to resolve intellectual property. >> i think that would be a good thing. but if they don't at least address the fact that this intellectual property theft is happening, i mean -- >> allowed to admit they're stealing china will not tell the world we have been stealing but they have to admit that something needs to be done with intellectual property in and of itself if they don't do that i think this psychology of the market is going to shift dramatically because keep in mind there's about 200 billion dollars of chinese products
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coming into the u.s. that could see acceleration and taxes accelerate on which could be problematic to consumer. >> although you know, so funny ceo last week said even is schedule about trade and nothing not one thing has changed for his business or his big clients i think that's amaze because all of the wall street observers, have been on fire so many of the corporations are saying so far, has been pretty good and speaking of that, the banks are big for -- big banks last week all about them. i don't know, i think kind of mixed but although it is interesting jeff because they miss all trading right. i know you like banks they couldn't trade when market was sideways. they couldn't trade with the volatility smartest guy in the room. nevertheless, overall, they were able to turn up and kind of lead this market last week. >> well think of it you have you had wells fargo and jp moore begun and morgan stanley like you said all to do with trading but you have bank of america,
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that just shattered earningses, they made over 7 billion dollars profits this quarter which was had triple what they made last quarter. they're firing on all cylinders i know people look at bank of america being a very boring slow moving bank. but they really showed that they could perform. i think with the banks epg there's going to be the have and have notes. i think what you're going to see with banks is you're going to see the positive impact of lower, lowered corporate taxes are going to help banks dramatically. you're going to see regulatory rsms are going to begin to help them share buybacks ab they're going to begin to make money to me in a market like this that's where with you find -- >> forgive me charles it was cover me bare herb that earnings are hurting. because that's an a indication of a recession. that doesn't seem like there's a e recession coming to bank profits are come hg in pretty strong right are? >> it doesn't seem like there's a recession but this has been such a beaten up factor. >> you thought there was a
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recession coming right are? >> i think we don't get a handle on the trade situation, we're going to e sou a recession. sm but banks aren't signaling that. well banks have been so low, and so undervalued that they're not going to signal it primarily because they have such a far way to go to catch up with rest of the market. >> this week it is all about regional banks i'm not sure how closely you follow them but that would be to liz's point to better proxy for u.s. economy. >> i think the the region aral banks are crucial plus there's element of consolidation in the regional banks that i think needs to be taken into consideration. a lot of the regionalses are finding that they can't make money without consolidating so i think that's going to to to best to regional but i'll be paying close to regional. >> right now you feel like from what you see particularly highlight bank of america, though, that domestic our economy is up pretty good. >> right now i think we've had a good past economy.
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i'm so unbelievably concerned about what's happening with china. i think that could derail whole thing that's where my concern lies. let me ask you about a company that reported netflixing and i think from what i was saying you like it. mixed reaction to the number -- more subscribers guided higher in subscribers but there's obvious problems there are not problems with concerns but we should also let audience know when stock is up 50% in three weeks it may pull back no matter what the news. >> exactly i've always liked netflix i like when people did not like them going back many, many years pre2012. i think netflix is a dynamic growth company. i don't think you could really look too deep into the numbers but what they've done is they've reinvented the box office. now that they've it shall now that rome has come out under this model and going straight to the consumer through streaming, i think it is redefined how the entertainment industry is going to grow and i think it is --
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>> netflix is whipping fast balls by wall street and everybody. here's why so netflix's game is so invest a lot in content and spend a lot of money to invest in content right so it has to look god on its investment that's called return equity that has to look good for them and shot up 35%. four times six times what it has been over last five years, why? because remember, return in equity is, you know, you strip out basically assets minus liability. it is shove those liabilities off the balance sheet boosting that number higher. so looks pretty. it look like a pretty painted picture when the number that debt is off balance sheet you factor is all in it opportunity look so great so total debt swamps its stockholder because they have made investment in content. off the balance sheet leases are off balance sheet so i think fainting pretty picture. >> so what about this issue jeff for all of the recognition that netflix gets with respect to content they don't own a lot of
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content so the point spending a lot. but ultimately when disney takes their and entities takes away from platform will they be able to fill that void to keep this momentum going? >> but this will be a viable threat to them. i think disney will force them to be even more innovative than they've been. i think disney still has a very strong vested interest in keeping the box office model in effect, and i think that box office model is going to die a slow at the time. and i think netflix streaming model is going to exceed whatever -- whatever did should note last yr was a record-breaking year for the box office and it wasn't higher on ticket prices people started going back getting some of that food keep in mind last year was a record-breaking year. primarily because of the big block -- blockbuster movies so -- as you don't see those big blockbuster movies come out hollywood can't make money without them. >> all right jeff thank you very much.
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appreciate it. now there's this fda is pulling e-cigarettes off shelves unless you smoking rates drop over next year joining us now dr. marc siegel fox news medical correspondent, siegel you've been talking about it this morning and cautioning on this and it feels like big drug companies are thumbing their nose at the trump administration. >> they're saying they're they're saying we're clamping down. clamping down few months ago fda said flavored e-cigs are out of stores but nobody is listening to this charles. there's also a law on the books that under age of 18 you can't buy any cigarette in those stores so how come 3.6 million high school percent and middle schoolers used e-decision over past year which had is up 1.5 million seeing increase of 78% in -- year over year. national institute of drug abuse says no substance has ever increased that much in a year in the history of them looking into this. so fda commissioner spoke to me this morning and said look we've
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enforcement discretion here. don't have to allow these thing market you know why because they never applied for regulatory approval and he told me this morning he thinks congress is going to act over next year, and ban this, and he'll block -- he'll go along with. because right now right now fda is giving them a free ride and he's saying it will stop and congress will get involve. a major cigarette company bought joel for many billions of dollars there's a lot of money at stake here. billions and billions of dollars to ban the product do you think it that's possible? >> well, again he's calling it a threat to i think it is actually going to happen? i think it could. i think once they wake up and start taking this more seriously, maybe we'll roll this back. hey charles had nick teen is not only a gateway drug for tobacco because 40% smoke tobacco but you can withdraw from it it is actually a powerful addictive sub finance and put into your computer, i think --
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they've gone way too far with watermelon flavors with menthol. >> no doubt about it. joe camel on steroids dr. siegel. not a big fan of regulation but -- exactly. exactly. laughing -- [laughter] not smoking but just kidding. you doapght do anything. official super bowl 53 is set los angeles rams will take on the new england patriots and in atlanta on february third. but there are some questions about security for the game and government shutdown, the the question are those concerns we're on it were more varney right after this.
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high do you think we go from here? >> i think we'll probably see national average fluctuate a little bit over next few weeks what we have to really watch for is what comes after valentine's day that's when we usually see culmination of refinery maintenance and long transition summer gasoline which does start as early as mid-february that's when storm is really going to start brewing. and national average will likely really pick up steam by mid-february or they starting in february and that could last through april or may. but for now, should enjoy these prices still 30,000 stations across the u.s. that are under $2 a gallon but storm is coming. >> speaking of the storm coming crude oil has been coming on strong since hitting a low couple of weeks ago. and you know, a always talk about these dynamics all that it would take was feel like maybe administration to go and say okay, we gave you be we doapght want to shock system but now we're clamping down harder in iran taking away some of these
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temp you know some of the temporary are provisions they've put in there. how would something like that impact crude and ultimately price ofs gasoline? >> great point there. iran shipping oil out and back of unserpght it hasn't amounted to a big jump in price of oil but what you have to watch out for is if we do start to clamp down on iran if temporary waivers eventually are done, if the white house decides to kill them off, and if you have a broader deal request hien you're really going to see a pretty major pinch point, of course, opec is cut production. even canada has gotten in on cut and production so if you start to see a robust economy this could start to see oil prices get back into the 60s maybe even 70s, of course, this comes at a time when demand is poultry keep your eye on that but we could be heading towards a pretty major pinch in the month ahead if the economy picks up steam if there's a china deal and if the white house starts to
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clamp down on iran. friday i think there's 25 additional rigs -- cuts it just -- it feels like the american producers i don't know what their strategy is but -- when the price is going down, you know but how -- how important is it because they seem to be able to turn off and turn on these rigses pretty quickly. sure it did you want take a lot to big rigs online or take them offline and sure as price of oil has gone back up, i don't think there's a lot of -- of those in industry that thought that sub 50 dollar price were going to stick. i think it was a culmination of kind of economic jitters, and sure now as you see prices going back up and rigs coming online i would expect that to continue sure you may see some come and go easy -- easy offs are coming back online now that oil prices have gone but it is more of a light switch than ever before.
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still not substantiate but you have to have personnel and oil prices are likely to continue going up here on ford, i would expect that sure, look at u.s. production numbers and light of those drilling numberses too. compared to two side by side, and you're paying with picture that there's still a lot of oil coming out of the u.s.. smg patrick great talking with you see you soon. >> my pleasure charles. starbucks ceo could be or canning run in independent run for president for 2020 emac you have the details. >> in the state of washington's union that's where starbucks is out of is really upset they're saying you're running into independent but you claim you're a lifelong democrat, i have two words for you the chair that may have says, just don't. this party, this race is much bigger than had ambition of one person. there is a clearly, though, charles an indication to presidential indicator i made it up that shuttles will run he's out with a new book. it is a second book in four
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years from the ground up. you know journey to reimagine the promise of america blah, play, blah, so theory is on kasich if he runs as independent democrat party is up a tree say wait a second you're beg to split the vote the democrat vote we have overcrowded fields or already. don't do it don't split anti-trump vote. >> it is going to be interesting i've always believed he would run. you know, but i don't know what the platform is beginning to be anymore. and what particularly where would he fit in a new democrat party that leans so far to the left -- >> that's a great point can i give you his selling point saying he's setting up as a anti-trump candidate but there's a difference between a global enterprise like me i've traveled to china probably more than any of the ceos, but i understand these issues versus someone who run a private company, but very little to share responsibilities okay so he's selling coffee in china so i don't know.
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>> watching hey look at me i'm a globalist. not sure that's going to be the platform. >> here -- thanks a lot emac. >> by the way more trouble for facebook reports that regulators have met to discuss hit hg them with a record-setting fine for privacy violations we'll be on that and a lot more. more varney after this. ♪ sources say liberty mutual customizes your car insurance, so you only pay for what you need. over to you, logo. ♪ liberty. liberty. liberty. liberty. ♪ i am not for just treating my symptoms... (ah-choo) i am for shortening colds when i'm sick. with zicam. zicam is completely different. unlike most other cold medicines... ...zicam is clinically proven to shorten colds. i am a zifan for zicam. oral or nasal.
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google hit with a 50 million-year-old sound by e-regulator. unsatisfaction using data to sell ad 50 million euro and coins in the seat cushion for google which had is tens of billions of dollars and cash equivalent on balance sheet so another embarrassing headline of e.u. going after silicon valley tech game. this is where fines are coming will it step up and go after facebook? got to much watch that one. >> that fine isn't big enough to deter -- yeah. now there's this. there's a new survey out from bank rate, they found that majority of americans can't afford an emergency of a thousand dollars expense, of course, you know emac they do this eve single year. it was a same number last year. they ask if you have a emergency they said they have money in the bank but 19% said last they have
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to use a credit card 13% have to reduce spending 12% say they would borrow money and take out a loan bottom line is here we're in a dier situation for a emergency. >> looking at the survey, you're right it has been the same binding for a number of years now, a few years i'm looking at the income surveying and tend to be middle to lower income brackets they're in world of pain, and you're absolutely right. that the -- that the fact that they don't have the money and cash and on hand for an emergency, isn't good for this country. it really is not. >> 60% of millennials in past said they couldn't handle this. but you think also about you've been someone who preached this for a long time sort of self-responsibility right in an environment where you know people are yellow you only live once. fear of missing out and driving behavior so you spend all of more money to go with friend
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somewhere to enjoy life that's fine. but you don't have a thousand dollars for emergencies. >> you and i have sort of the sail background i'm one of eight kids my father was out of a job in early 7:30 70s during recession an he didn't make a lot of money so i had to work starting at age 13, 14 so i liked it. i liked sense of responsibility owning it. you know, so i'm curious as to the demographic break down of those surveys not a lot of detail there. but i want to dig more into it. >> meanwhile california governor newsom offering unemployment benefit to tsa workers how could he do that? >> so what white house trump administration is saying if you're working without pay you're not eligible for benefits and state of california will give our tens of thousands of tsa workers state unemployment benefits. now here's the thing, other states could pick up and say you know what, trump white house it. we're ignores you and follow
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your lead on this on washington, arizona, they basically are saying that listen, our guys have been unjust isly working without due to government shutdown that you created so this is a democrat gavin newsom really are saying, we're not going to pay attention or follow your guidance is trump administration. >> all right we'll see how that works. thanks. we know it is martin luther king day that means our markets are closed but the futures are still is trading, in fact, they trade into 1:00. this is near low of the recession 125 points another caravan head hadding to southern border this as democrat leaders reject president trump's deal to fund a wall. we've got it all covered for you second hour of "varney & company" is just minutes away.
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>> while cnbc is on tape, we're open for business. charles: that's right, i'm charles payne in for stuart
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varney. we're live as our friends across the river take a day off. we're getting you prepared for trading day which should be a big one. futures are trading until 1:00. this is the lows of the day. we have gotten off to a record start, not a record start but it has been sizzling. six dow components reporting this week, 50 s&p companies reporting this week so it will be a huge week for the remember. also remember the china news, in fact more to this intrigue because they reported growth fell to the slowest rate in almost three decades. remember those trade talks still rolling along. this is huge news out this morning as president trump made an appeal to end the shutdown over the weekend now at 31 days, 6.7 billion to be, for steel barriers at the border and border security, in exchange you have a lot of things, including three-year protection for daca recipients.
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we'll cover all of that and more. the second hour of "varney & company" starts now. ♪ charles: straight to the ongoing shutdown, the president tweeting this yesterday, quote, nancy pelosi, some of the democrats turned down my offer yesterday before i even got to speak. they don't see crime and drugs. they only see 2020 which they are not going to win. best economy. they should do the right thing for the country and allow people to go back to work. on that let's bring in brad blakeman, former deputy assistant to president george w. bush. brad, the democrats not budging here. do you think they are overplaying their hand at this point? >> there is no doubt about it. they are overplaying their hand, refusing to attend white house meetings. nancy pelosi wanted to leave the country and abandon her job of negotiation. we've seen her disinvite the
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president to the state of the union. before she became speaker, she announced i am willing to hear any ideas. democrats don't have a lock on good ideas. you know what? she doesn't want to hear the president's ideas from preventing from speaking before the body and joint session of congress. yes, they have overplayed their hand big time. charles: not only that democrats don't have the monopoly on good ideas. i want audience to hear overtures president trump made because these are democratic ideas. 805 million technology that stops flow of drugs at these legal checkpoints. which, by the way more will come i will healey over unprotected barrier part. 800 million in humanitarian assistance. 782 million, new border agents, law enforcement, 563 million. new court immigration judges. 5.7 for the barrier. if you start to say what the ideal compromise be, looks like
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this looks close to it. at heat they should be negotiating. >> let's turn the clock back one year ago. we had a government shutdown over what? daca. democrats demanded daca would be included before they opened the government again. it wasn't. president trump says, i hear you. we have divided government now. not my way or the highway. let me offer you things you asked in years past. let me offer you what barack obama couldn't deliver for you. they still turned it down. why? they have personalized this to the president. it is all about politics, his campaign promise they cannot let him get in advance of 2020. charles: so, brad, it also feels that, the, for the democrats at least, that hey, we're going to win the public relations part of this. the media is on our side. they will run these stories and show families and going to blame trump. ultimately there will be such bad publicity he will blink on
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all of this. >> the president is not bringing because the president's right. he is standing on principle. it is not only campaign promise which he was elected to fulfill, it is about the security of our nation and putting politics below national interests. so i think when you stand on principle you know you're right you can never lose. the president will stand on principle. he will do the right thing for the country. he will do the right thing even for democrats if they allow him. charles: apparently mitch mcconnell will bring a vote on this. it is food to see him in the mix. a lot of people felt maybe he was back benching this. republican senate, they're not getting any blame for this, by the way. for the most part the blame game is split between president trump and nancy pelosi. how much will that help, how much could that help with mitch mcconnell getting in the mix? >> it will help a lot and the reason being the president offered a common sense solution to a complex problem. it doesn't solve everything. but at least gives us some breathing room. shows the president's
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willingness to move forward on the complicated issues. it will force the democrats in the senate stand up either vote for it against it or not show up at all. very important to keep their feet to the fire, make them vote on a bill that they would have passed any day of the week under a democratic president. charles: late last week there were reports of some democrats, congressional democrats on the house side starting to sort of say, hey, you know what? maybe we should talk. maybe we're open. we know the problem solvers caucus made a trip to the white house. is there any chance that some of these, sort of, you know, new freshmen congresspeople, others who are not necessarily in the leadership position can put any pressure on nancy pelosi at all? >> yes. they put pressure on nancy pelosi, remember, there were a lot of new freshmen democrats and others who didn't even want nancy pelosi to return to the speakership. why? because they saw what is coming this is about revenge and getting even returning to the
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speakership. this is not fresh face. this is not new ideas. she is here to settle scores. they don't want any part of it. she is smart picking off the people to change the dynamic in her caucus. remind you of another thing. any deal, charles, mark my words is the same deal that could have been made long ago. it is all about politics. charles: wow. brad, always great talking to you. thank you very much. >> pleasure. charles: now there is this. china's economy continues to show evidence of a major slowdown. bring in susan li. what is going on with the latest read in the economy? >>suzanne smith: >>suzanne -- >> 6.6% is the lowest we've seen in 28 years. final quarter of 2018, is most concerning at 6.4%. because the trade, trade war, biting into the economy, we had trade stripping,% of gdp last
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year. compare that to 2017 where added over 9%. so china is in a world of pain doing a lot to stimulate the economy. cutting bank reserves five times last year. putting most into the banking system. $805 billion in the u.s. you imagine if that happened in the u.s.? market was be panicked, wouldn't there? they would be concerned about credit ratios and credit caught. charles: meeting mnuchin had with banks on sunday two days before christmas didn't go over very well. to your point, you said it, they have been injecting liquidity, cash, forcing banks to do things they don't want to do. they have been trying every kind of gimmick, 40 attempts last year to stimulate the economy and still starting to tip into the free fall mode. we want to win the trade war but don't want their economy to be
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decimated. how much is embedded problems with all the debt? >> there's a lot of debt, 2018, last time we saw 6.4% gdp they released that huge stimulus program, right? to make sure they didn't fall into a deep recession and deep protracted slowing growth we've seen here in the u.s. like the rest of the world. what they did was spend 5$0 billion. they're not doing that this time around. what they found in 2008, there were asset bubbles created, huge debt levels will eventually be paid by the economy and by people, we are seeing that right now. property has been hit. we have investments, just deal investment and also retail sales. it is 3/4 powered by the consumer in china. compare that 2/3s here in the u.s. you saw retail sales slowest in 15 years in december. i think that is a very concerning sign. charles: i read somewhere they did 220 rail projects, not
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making money. they have ghost cities. entire metropolises where nobody lives. that is their became plan. susan: that is the path. charles: what would be different? how could they stimulate the economy? susan: they are refocusing the economy. they understand debt is bad and eventually it has to be paid. their focus going forward is more of a global, i would say a global philosophy. stimulate private enterprise, private consumption, that is what they're trying to do at this point. they're trying to cut down on provincial cities and provinces from accumulating too much municipal local debt which is what they were doing. charles: all right, thank you very much. some breaking news on the 2020 election front. california senator kamala harris announcing this morning she will indeed be running for president. emac? liz: this is interesting, announcing on martin luther king day.
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her mother is from india. she would be the first black and first indian-american, if she wins the presidency. this is also really interesting. she is using the same color scheme in block letters of shirley chisholm who announced in 1972, and old new yorker, i remember that. shirley chisholm was the first black woman to announce for the candidacy back then 47 years ago. what is interesting here, it is now of a third woman to announce they're running for the presidency out of the democratic party. elizabeth warren and kirsten gillibrand. the question, will she attract the base? former attorney general of california, district attorney out of san francisco. you know, she was tough on crime. so does the hard left think of her as a cop? she's now coming out. charles: isn't she is in the bernie wing of the democratic party? >> she said she applauded alexandria ocasio-cortez's 70% rate on "the view." you know, that is a good question.
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what are her policies? her likability factor is extremely high. in some instances higher than hillary clinton. so she has national appeal. it is interesting thing she is announcing the on anniversary of the week that shirley chisholm announced. charles: trying to make history. liz: it is interesting. charles: now there is this, it will be patriots versus the rams in the super bowl. ninth super bowl for bill belichick and tom brady since they started working together in 2001. is that what viewers want to see? we'll talk to jason whitlock. democrats raising concerns about safety at the event. i will talk to a former homeland security chief of staff to see if that is valid. president trump laid out a deal on saturday, democrats resoundly rejecting it just out of hand. what happens next? we're on top of that. facebook could be facing a record final because of their handling of our data. i will talk to someone very
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critical of their chief mark zuckerberg. we have that and a whole lot more on "varney." we'll be right back. ♪ . baby shower here. big. life. moment. what is in here? ohh! oh, i hope it's a life insurance policy. what? it's a sensible gift. protection for you and your family, nationwide has all the tools to help you find the right coverage. tiny baby shoes. so close. (peyton) makes no sense. babies can't even walk. should have been a life insurance policy. plus it would have been a great song. think about it, the lyrics, the beneficiaries... brad, where are you going?
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charles: some breaking news from the tsa, they say that unscheduled absences hit 10% on sunday, highest level since the shutdown began. big tech news for you. facebook could face a record-setting fine from the ftc for its privacy violations. want to bring in vivek wadhwa, harvard law school distinguished fellow. facebook in a lot of trouble. you've been talking about this for a long time. >> charles, i have an idea i want to present to you. fine them $5.6 billion. let mark zuckerberg pay for the wall? it would be worthy and no one really likes facebook now for
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what they have been doing, what do you think? charles: sounds like a good deal. white house would take that one. as long as you get jeff bezos to put skin in the game, wink-wink on that one. no one likes them. likability has fallen. business has fallen. instagram has saved them, although the stock price up 20% this year, taken it on the chin, shown more vulnerability than it has in a long time. what will it take to get them to sort of take this seriously? >> only thing it will take is a multibillion dollar fine. zuckerberg is obsessed with mining our information and making money off us. that is all he thinks b he keeps lying to congress, lying to the public, i will do better next time, i will do better next time. he has been doing that the last 10 years and we let him get away with it. if we made a 5 billion-dollar fine, suddenly a wake-up call for facebook and get them to behavior seriously.
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also to solve the impasse between the democrats and republicans. i wasn't kidding. this is peanuts. still chump change for facebook. it has, lots and lots of money in reserve. they can easily come up with kind of money to pay the fine. this is what we need. charles: hope someone from the white house is watching. write it down and take this and run with it. meantime there is another book coming out, i think called "zu "zuucked," his name being associated with misdeeds. in any chance that public opinion can curb their sort of, bring some sort of, changes to the company? >> i wrote a book called, your happiness has been hacked. the book explained the tricks tech industry is using to control our minds. it is a game. they use psychological experiments done in 1940s, we
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put mouse in cages had them nibble on food and you know, basically make them addicted to food. they're using those techniques to make us addicted to social media. everything they do to keep us coming back for more. that is what the book explained in great detail. facebook is using evil techniques to control us. what we have to do now is all become aware of it, understand it. the fact we're discussing it is great. a year ago we were suckered by facebook. we're openly talked about it. and extreme left and extreme right everyone agrees with this. everyone agrees it is a serious problem over here. let's fine facebook extremely heavily. solve other problems and this will be a wake-up call for silicon valley. this would send a loud and clear message. charles: vivek, also one more for you. you have a couple pieces out on a new space race that is taking place, how it is shaping up. you say there won't be just one winner.
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so, state your case for us. >> it used to be you know, america and the soviets. the two empires battling for space. that is what got us to the moon. that is why we did the exploration. 30, 40 years, nothing happened. now what happened the cost of everything has dropped. this device over here in my hand, this has more computing power than the great supercomputers do in the 1970s. this is 40 times more powerful for great super computers were. gyroscopes used to call in million dollars. they're all featured in our smartphone. in my pocket i carry enough technology to take to us the moon. now that is the guidance systems and rockets. every nasa mission would cost about $1.6 billion. elon musk will rent you a rocket for $60 million that can carry about $10,000, 10,000 pounds of weight. cost of rockets dropped dramatically as well.
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the point over here, you know, anyone with a lot of money can build a space mission and you have elon musk doing it. you have jeff bezos doing it. richard branson is doing it, and whole bunch of others including governments. china landed on far side of the moon. if india discovered water on the moon with a satellite they launched. india plans to have a manned mission in the moon in 2022. talking about india. they want to spend $100 million on it to have an indian on the moon. imagine what is possible, anyone can compete. we're going to need ceilings as well as walls. we need to start building because on the moon one day. charles: some say we might need security force, space spores, wink-wink. we can't talk about that now, always enjoy our conversations. thanks a lot. >> thank you, my friend. charles: if you're a night owl, last night you got a real special treat. could you have seen a rare super blood moon, visible in north and
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south america. it is super because the moon is closest to the earth and the blood because the eclipse byes a reddish moon. next luna are eclipse won't happen until may 20201. liz: wait a minute. they're rebranding the moon? charles: you can put your logo out there. more "varney" after this.
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charles: to brexit. prime minister theresa may set to brief parliament later today on her new brexit plan. is this plan b, g or f? i lost track. liz: plan z. here is what theresa may is expected to say.
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that she is going to ask for more concessions out of the eu you know meaning about the irish backstop, negotiations over that. news is crossing that the tories may call in the queen to help out with negotiations here to stop any attempt to water down brexit as germany's angela merkel and leaders in the eu are treating this like a potential break the glass hair on fire moment because because angela merkel's own party saying we would not stop the uk from leaving the eu so the plan b vote though, charles, is key. word is it may come in february. look, charles, this could be, this could be a market event. they're running fast up against that march 29th deadline. so you know, this is 2 1/2 months away. they still don't have a hard and fast plan to leave, or whatever the deal is going to be. charles: crazy. liz: no, no unity on this right now.
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charles: one more for you. vietnam could be location of second meeting between president trump and north korea leader kim jong-un? any particular reason? >> in hanoi, it would be a heck of a long train ride for kim jong-un because he doesn't like to fly. they're talking late february. what we're hearing is this, again this is a fluid situation, the north koreans are saying we want the united states a out on all spheres for lower its presence. that is the deal breaker. there are still indications that north korea is still developing nuclear missiles in secret sites. this is all on the table. that is fast-moving developing story. we'll stay on it. charles: thanks a lot,. liz: sure. charles: china reporting slowest growth in three decades. this as it cuts a global forecast this morning. can we feel it here at home? we're on it. ♪
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♪ ♪ it's been a hard days night liz: we are faithful to play the beatles. charles: we're working pretty hard. we're working. some people are off. we're working. liz: we're working. charles: all right. hey, folks, a quick check of futures. that's right, the futures are open until 1:00. they have been one one hundred all morning long after magnificent week and strong start to 2019. we got this tweet from the president. quote, last year, last year was the best year for american
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manufacturing job growth since 1997 or 21 years. the previous administration said manufacturing will not come back to the u.s. quote, you would need a magic wand. and i guess i found the magic wand and it is only going to get better. straight to the shutdown. that hasn't gotten better. 31 days, that is your month. bring in brian demi interest. rovic, fellow at laffer center for economics. you like smaller government. more and more economists say the shutdown will take dramatic toll on the economy, are they right? >> mathematically it is necessary for gdp to go down when government spending will go down. that is down in quarter one. when shutdown closes, gdp in quarter two will zoom way back up. one quarter in 1978, there was 16% of increase in gdp because of seasonal events like that. i don't think it matters.
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charles: is there a point it gets so bad, i understand people know about the snapback, people get paid, retroactive payments for all the government workers but there are some things you can't get back, right? like a plane leaves with a empty seat, you never get that back. >> there are some things you can never get back. you can never get back the government workers who quit their government jobs during the shutdown because they explored the private sector. if that happens to any degree. people get second jobs, getting post employees, entering the real economy, boy does that mean real growth in the future. all the real growth in the economy comes from the private sector. charles: you think this could be a blessing, someone may say, we'll try the decision economy, find they love hours, love amount of money they're working, a paradigm shift within the thinking of folks being told, hey, nothing beat as steady government job, particularly one that comes with unionship? >> you put your finger on it, charles. that is exactly what slows our
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economy down, the lack of ambition among a very large segment of the workforce f a particularly large portion of that workforce takes advantage of the shutdown and says, why don't we explore real alternatives, and then they succeed, that is one of the best portents we could have for our economic future. charles: one thing i have always said. to unlock people's individual potential should always be the goal of our country no matter who the political leaders are. brian, i have one more for you. big news out of china. seeing slowest growth since 1990. what do you make of it? >> yeah, sure, china has an undiversified economy, much less diversified than the states. the united states is the biggest and most diversified economy. if the rest of the world slows down the united states can still grow because it can sell everything to itself. we'll see various countries around the world making a choice, do we want to grow like
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the united states is or sink into socialism stagnation? the more the united states holds the flag high for economic growth, the more nations around the world will few emulation. charles: we read that the china would like export driven economy to domestic economy much like america's. what would be trick doing that, with the equal goal eventually being the world's preeminent economy and world's reserve currency? >> he have this most important thing. they have affixed their currency to the dollar. they duplicated the relative price structure of the american economy to their economy. the fixture of the dollar is the essential fact of the chinese economic growth. they have to do the supply side solution. cut tax rates, regulation and keep stable money and they will grow far into the future with the united states. charles: brian, the government intervention part of this sort of, their version of capitalism, state-run capitalism, some say
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it has been extraordinarily successful. is this a model they can present to the world saying hey, look where our economy was 20 years ago? look where we are now and maybe advertise it as a rival to our economy. >> china is nothing without the fix to the dollar. at the i am -- imported price structure to the united states. this thing about the state geared investment towards certain sectors no, no. they imported the relative price structure of the united states. all the investment eras were produced by the american signals. charles: brian, always great having these conversations with you. we always learn a lot. appreciate it. see you real soon. >> good, charles. charles: to the shutdown of day 31. democrats rejecting president trump's offer. bring in blake burman. he is at the white house. blake, i don't know, what, will we see any progress out of this at all any mean, maybe late yesterday i heard there was some movement?
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>> you put it best, i don't know, right? where do we go from here, charles? we heard from president trump over the weekend. he sort of laid out this plan for potentially ending the stalemate in which the president continues to insist that he wants $5.7 billion in border wall funding but there is more to the plan here. the about the also, for example, would give $805 million for drug detection technology, 250,000 more border agents and in exchange three-year legislative extension for daca recipients and temporary protected status. president is getting hit on both sides, on the right, from more conservative members of the republican party, they say this essentially amounts to amnesty. the president had to take to twitter over the weekend. he wrote the following, no, amnesty is not a part of my offer. it is three-year extension of daca. amnesty will be used on much bigger deal whether on immigration or something else. that is part of where the president is getting some criticism from the right.
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on the left, democrats say not a dime for border wall money. president wants $5.7 billion. they want the government to reopen right now and then debate where to go on immigration issues. so when you look forward this week, charles, the senate will put forth the president's proposal. it remains entirely unclear how they get to 60 votes in the senate. remember there is only 53 republicans. while in the house, nancy pelosi is going to continue to, and democrats continue to pass spending bills but that is pretty much dead on arrival in the republican-controlled senate. the president has said, that he won't sign anything like that. day 31 and remember in all of this as we head to day 34, 35 of the shutdown, 800,000 or so federal workers are set to miss a second paycheck on friday if this doesn't get resolved here within the upcoming hours, charles. charles: blake, before i let you go, mitch mcconnell though, by
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presenting this vote would at least, it would give us a chance to see where individuals stand, wouldn't it? reporter: right. charles: that could be a form of pressure to say, okay, you always said you wanted to help the daca recipients, here is the opportunity you're turning it down because you don't want president trump to have a wall. reporter: mitch mcconnell said he will not put anything on the senate floor that the president would not sign. when mitch mcconnell puts on the senate floor, this is obviously something president would sign. as it relates to daca recipients, democrats say this is just a three-year extension. why would we give you a permanent wall, if you will not give a permanent solution for daca? so therein lies again kind of where both sides stand on this. again, there is no clear, clear path as to how this all shakes out. charles: blake, thank you very much. appreciate it. we'll stay on the shutdown here because it is affecting us more
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than you think. many people reporting influx of those pesky robocalls. emac, the details? liz: the fear it is becoming a free-for-all. here is what is going on, the do-not-call registry run by the ftc is shut down during the government shut down. also the fcc's registry where you have complaints about robocalls that too is shut down. i mean the staggering number of robocalls, charles, nearly 5 billion in the month of december alone. more than 150 million robocalls sent out a day. the fear is that it will get worse. it will pick up as the shutdown goes on. it is still tracking at the same pace it was in december which doesn't sound great but doesn't look like there is an uptick right now, but people are afraid, robocalls per day will come calling in. charles: this caught our eye. one lawmaker in south carolina trying to pass a bill requiring all high school students to take and pass a personal fitness
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director burt fleckinger. he said consumer sentiment is affected by more than trade talks of china, government shutdown. the federal reserve is involved as well. roll tape. >> talking to retailers particularly in the border cities, with the government shutdown, tsa cutting back on hours, the government employees are spending less and as you pointed out on your show, when fed chair powell, who is neither a businessman nor an economist really hurt the stock market from october to december when the stock market -- charles: had impact. >> people stopped spending december, jan. ♪ only a tiger costume, we're finally going on the trip i've been promising. because with expedia, i saved when i added a hotel to our flight. ♪ so even when she outgrows her costume,
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>> cannot take into account the fact that some information, when made public could weaken the uk's negotiating hand. so as the negotiations progress we will also look to deliver confidential committee sessions that can ensure parliament has the most up to date information while not undermining the negotiations. we will -- liz: here is what is going on. let's bring you up to date. that is theresa may speaking to the commons. she has now, is having tough words for jeremy corbyn and the labour party saying basically we will not likely negotiate with you. we will move forward on our own. she says she regrets the
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opposition labour party leader not taking part in the brexit talks. the other news coming out, they will continue to hold meetings, but what she is saying is, do not hold a second referendum. that would be a mistake. that is uk theresa may saying that. it could strengthen hand of nationalists. she believes there is majority in parliament for second referendum. this is theresa may introducing her plan b. she wants the eu to give more concessions to get her to move forward on brexit talks, meaning no hard border between the northern ireland and the rest of ireland which is in the eu. charles: right. liz: so this is moving forward. we now see theresa may with tough talk. she did not really take this stance before. this could be a brand new theresa may saying i will be tough, i stand up. labour party stand down. we need this settled. charles: surviving the no confidence vote did it. thank you very much. the shut down, democrats now
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warning of security concerns at the world's busiest airport during the super bowl. want to bring in chad sweet, former dhs chief of staff. chad, how worried should fans be? >> i think fans can take comfort in that right now if you look at dhs which is helping to support the security of, 87% of all staff are working, dhs contributed hundreds of different components of the department to bring assets to bear and capabilities to bear. they have got cpb bringing dogs, bomb-sniffing dogs. they have tsa with magnetometers and advanced imaging technology. we have atm armed federal agents. this super bowl is not what is called a nsc, national security event. this is highest event this is level one, special event or emergency readiness level one. the feds are taking a back seat. the locals will be driving this
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they are also very well-prepared and not affected by the shutdown. charles: that is a great point. i never even heard that before. what distinguishes the two? seems like the super bowl, i hate to say it, for lack of a better term the ultimate soft target? >> well, it is a good point. i think, when you look at the level, some years the super bowl has been designated a nse a lot of factors go into that. a big part is the threat picture. we look at a whole host of intel, intelligence feeds. thanks to having us taking the fight to isis abroad this year, the threat picture isn't significant enough to represent the highest level threat. charles: that is fantastic news, chad. hey, got one more for you. we're getting word there is yet another caravan being formed in honduras. this time so far, about 400 members. what are we to make of this? >> i think, these waves have the potential to keep coming unless
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we hold the line. i think one of the things we tried to do when i was chief of staff at homeland security undersecretary chertoff, president bush challenged us to do pushing borders out. we don't want wait for them to come to our border. we work together to create layers of security in advance of that. so right now the administration needs to be commended for having worked very closely with the mexican government to try to offer asylum in mexico to keep them from our borders. process them on the other side of the border as well. the president reinforced the border as we know, with title 10 military as well as asking for additional funding. i think that is really, right now, the main thing to take away, it ended last year, holding the line, turning that last big caravan away was important signaling deterrence effect. hopefully it will prevent future waves like the one starting to form. charles: chad, thank you very much, appreciate it. >> thank you, charlie, now there is this.
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president trump tweeting about martin luther king day, quote, today we celebrate dr. martin luther king, jr. for standing up for the self-evident truth americans hold so dear. that no matter what the color of our skin or the place of our birth we're all created equal by god. #mldday. plus it is down to two. new england patriots, los angeles rales are both going to the super bowl. it is tom brady's ninth super bowl. is that what viewers want to see? jason whitlock, fox sports 1 host will be with me. he is next. ♪ jardiance asked- and now you know. jardiance is the first type 2 diabetes pill proven to both reduce the risk of cardiovascular death for adults who have type 2 diabetes and heart disease... ...and lower a1c, with diet and exercise. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing.
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charles: now to the super bowl. we finally got our teams. new england patriots, los angeles rams. a bicoastal brawl held in atlanta. we bring in jason whitlock, "speak for yourself." some people say tom brady can't be stopped. >> i think bill belichick can't be stopped. i think tom brady is the most dominant athlete of his era. i think bill belichick is more important to patriots success than tom brady. yesterday was proof of that.
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bill belichick, another masterful performance. they took away the two best weapons with trek hill and travis kelsey. took a 14-0 lead and impossible for the chiefs to overcome that. charles: they never blitzed brady at all. anytime i saw some pressure on tom brady, i saw bad passes and some anxiety there. i was so curious, if why they would give him so much time and why they left the same two place work every time? >> you have to pick your poison with brady. if you brits him, throws ball so quick he could hurt you that way. i completely agree with you. there came a point in the game, hey, man our original plan of laying back, playing coverage, only rushing four guys isn't working. we have to adjust. i do blame andy reid for that. he has a bad defensive coordinator.
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andy reid sits on the bench talks to patrick mahomes most of the time defense is on the field this is a problem the entire field. not shocking that the patriots exploited it and tom brady exploited it. yeah, i think the patriots were there to be had. they just needed to do something to mix it up a little bit earlier in the game to get tom brady out of rythym. they didn't do it. charles: they did not do it. seems maybe the rams will, in part because they have the personnel. donald is looking like a superstar these days on defense? >> i, it is impossible, charles, at this point for me to ever bet against bill belichick again. so aaron donald looks awesome. charles: you bet against him this past weekend? >> yes i did. i paid a steep price for being stupid there betting against bill belichick. aaron donald, dante fowler, ndamukong suh looks terrific. the patriots defensive loin and
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shut them down and shut them out. the patriots offense line will have gameplan for los angeles rams. i don't have the heart or courage or stupidity to bet against bill belichick again. i'm not going to do it. charles: nice to see you. >> thank you, charles. charles: amazon news for you. the company is pushing their own trans-pacific shipping service. emac are they getting rid of all the transportation hubs beginning to end? liz: great point this is the one unit of amazon you hardly hear anything about, but it could really overturn the way goods get shipped to market. why do i say that? amazon's logistics unit. it basically has freight trainingers and, it is dealing with shipping containers in and out of china. and it is basically, it is, cutting out the middleman. in other words, a small chinese factory can send its goods
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through amazon to the amazon consumer. so -- charles: ships cost a lot of money. liz: ships cost a lot of money. this is part of amazon's push, i hate to use the word echo system of entire contained sphere of selling. remember there was that whole push on wall street amazon doing this would really hurt the bottom line. it ain't happening. amazon is now dominating, the costs for this shipping as well. charles: we've seen already, that fedex, ups have taken it on the chin under the assumption that they're going to be successful. liz: walmart tanked. good point. charles: more on the shutdown. we'll talk to ceo of betterment. a lot of his customers are taking cash out of emergency funds to cover bills during the shutdown. we're all over it. third hour of "varney" is next. ♪
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♪ charles: good morning. i'm charles payne. stuart is off today. 11:00 a.m. on the east coast and the abm out west. wall street closed today for martin luther king jr. day. they been under pressure all morning long. the dow up 111 points right now. i want to get straight to the latest out of china. the economy at the slowest pace in nearly three decades. beijing says the economy grew by six points 6% last year. the numbers are unlikely worse than a benign. joining us now, donald luskin, ceo of trend macro. donald, china's economy obviously a day after report they spend a trillion dollars to
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close the trade deficit, bring it to zero. certainly must help us leverage as we advanced these talks, right russian marat >> you bet it does. you've got to remember one thing. strongman like president for life xi jinping would not even be negotiating with president trump here they wouldn't even come to the table if we weren't holding a knife to their throw. a gun to their head, if they were in danger because of what we're doing. the united states is a huge customer of china and we threaten this engage with them. we threaten to throw them into something they've never experienced before. china simply does not know what a recession looks like. in a command-and-control economy like that come our social cohesion is so important you have to wake up in the morning until that the communist party, you get a recession and people getting layups and pink slips for the first time in their lives. you have to wonder if your xi jinping if you've got enough riot police. you bet you'll negotiate with trying to get terrace taken away and get your economy growing
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again. that's the whole secret to this negotiation. charles: it is interesting to your point last year was the first time they saw auto sales decline in china since he became a big buyer back in 1990. the tables have turned significantly and still by the same token, they have a game plan. they have a goal in this goal for stealing a lot of u.s. technology. let's be honest about it to get what they need to go. >> it's funny the way you put it. let's be honest about it. that's what we're asking them to do. let's be honest about it. think about it this way appeared at the end of the day of china bases its economy and the ability to steal technology from us, and it has a long-term strategic plan to let us do all the creative thinking in the world and then they'll just steal it. what kind of plan is that? that's the plan of a parasite. that's the plan of a flea whose plan is i'm going to have a dog to the blood out of.
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what if they decide you're going to have to develop your own blood, mr. flea. you're on your own. it is in the flea's own interest to become independent. what trump is asking china to do is to become a better stronger, bigger economy. it's in everybody's interest except the communist party because you loose power in the process and that is the one and only sticking point. charles: how does a final deal look in your mind again we've got to trillion dollars offer. most people believe that was the low-hanging fruit part of the spear the harder part is the more complicated. in your mind how would something like that would be considered a quote, unquote win-win for both presidents? >> well, and before the negotiators sat across a table, china's given us everything they want or at least they said they would hear this at the luck factor made in china 2025 policy. the party started buying soybeans and sorghum from us.
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maybe they will pass along that rescinds the requirement that coinvestors and china share intellectual property with a local partner. all they have to do now is sign on the line that is dotted. this is a classic case of negotiating against yourself. they did this before negotiations began. what do you do? you say i smell weakness. i'm going to ask for even more. this thing will go right down to the deadline on february 28th. it's going to get really scary in the last week of february because everyone will have this they can thought and the law fault the cliff together in no deal will no deal will get done and it will involve compromises that you can even imagine that have to do not only with economic issues, but china working with us to solve the problem in north korea, solve the problem in iran. a lot of good things we can do with china if they just understand our negotiating position. charles: i've got to tell you, that would be absolutely amazing. they would turn so many truths. so many people say they can be
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done. you never use tariffs. there's a lot of people invested in this not working just to get the things other than economics. those are all the same people as the donald trump could never get elected. charles: that's true. you can write on these markets. you predict the market would stabilize. he talked about this a lot and then after the fed third of got out of its own way. so here we are we've made this remarkable move it the fastest $1 trillion gain in history. over at the crossroads. we are a key resistance points come in and of earnings season. what does it take to keep the rally going? >> what it takes is a test. it takes a little more fear. the thing that creates a great rally is fear. remember how you felt on the house trading day on chris and steve when the lights of the world were going out and the bottomless dropping out of everything? that's what makes a good bottom. we've had 15%, 16% rally from there. we need to test that, we need everybody to pay i'm going to
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lock in my pathetic little recovery gain that i got this christmas eve. i've got to get it now. as soon as everybody says that, the next leg up. count on it. tree until you've been right. charles: i wrote it down. believe it or not, we record the stuff, too. i'll bet you broadcasted on tv, too. when we play old reruns that i would love to do. thank you. appreciate it. >> thank you. charles: believe it or not, we have more brexit drama. british prime minister theresa may presenting her plan b to parliament this very moment. bring us up to date. >> she's effectively saying she's extending an olive branch of the e.u. paid millions of citizen now have until june of 2021 to apply for settled status in the u.k. for about 65 pounds. she is saying e.u. residents,
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you can come into our country, but the real dramas to fight fire which are recording, the labor leader. what theresa may is now saying, we try to negotiate with you. there is no negotiating with you. charles: the no-confidence vote. liz: sheaths and i'm going to refocus my entry on those who have been upset with me. get them to come together and say no to a second referendum that will ruin social cohesion and delay with the british people have voted for and that is a deal to lead the e.u. she is still pressing ahead here this is a knockdown drag out fight at the 11th hour. 2.5 months ago before they potentially could crash out. that's what it's called. leave the e.u. for good. they need a trade deal to avoid a market reaction. charles: thank you very much. tesla given approval to start selling model threes in europe. gerri willis joins us with more. how big of a deal is this? >> it's a very big deal.
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luxury sedan market is twice as big as the u.s. market. they're also going into china and according to the logs right now, the model threes heading to europe and they'll arrive february 2nd. the technical word for this, homologation. that's when you enter a new market. that's the first time i've heard that word. we've got some homologation going on. yes it's legal. charles: good to change their. a lot of news about lower prices, they've got some big debt issues coming up. >> that is the most important obviously. what they're doing is bashing themselves first bead. people won't miss the kinds of breaks on prices the federal government was helping him with and are trying to push out as much product as they can. they're going to be in china as well and expect me not to be very important to them. this is nearly twice.
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on the flip side of the equation what a lot of people miss, gm has more on the road than tesla, which is often ignored about who is the leader going forward. when you look at templates product on the road, where people are trading in, what cars are people leaving behind? bmw x three? people from a lot of different backgrounds. charles: any indication how well it may be received in europe? >> 14,000 people have signed up already for the car. this is a big sedan market. they love the autobahn driving their sedan. >> we like big pickup trucks and suvs. >> you need a lot of space. i think it's going to go great week has tesla is and it's got great word-of-mouth.
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i don't know long-term what the future is going to bring, but it does have a lot of marketing right now. charles: thank you very much her book into the studio. >> good to see you. charles: excessive callout causing serious problems for the tsa as well as air travelers. another major airport closing a security checkpoint because of it. we will tell you which one right after the break. congressional democrats rejecting president trump's latest proposal, which would provide temporary protection for dreamers saying it doesn't go far enough. in the latest migrant caravan is on the move heading towards the united dates. next we'll talk someone who says they are likely having to remote border areas where there is very little enforcement. the third hour of "varney & company" just getting darted.
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charles: breaking news. president trump holding an event for martin luther king jr. day. as you can see he's just now arriving at the memorial. i'm not sure if it was a daughter not. the live image as president trump lady may read here. i just want to stay here for a minute. so again, president trump was thinking perhaps unscheduled a trip here to the memorial that's been open and became an instant must-see destination for washington d.c. >> thank you for being here. appreciate it. >> president trump technology and then celebrating martin
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luther king jr. on the day that we celebrate his legacy and his birthday. it's not today but we celebrated today across the country. a baltimore airport security checkpoint we've been told is now closed until further notice. blaming assorted junk strainers to excessive callout. agents have not been paid in weeks. most government workers this will be the second week without getting paid because of the government shutdown. 10% of tsa employees called in sick yesterday around the country. that's the highest level since the shutdown began. and now there is this. president trump offer democrats a deal on daca in exchange for its border wall. want to bring in nelson pulido, council president. just so the audience knows that the entire deal, $527 billion for a barrier, not just the wall.
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$805 million for technology at the legal crossing points to curb the flow of drugs. $800 million in humanitarian assistance. 782 million for new border agents and law enforcement. 563 million to support immigration court system including new judges. would you say that is a fair deal? >> i think it's a very fair deal. one of the things missing is the reason we have this crisis to start with was the asylum seekers coming over that when they come over they look at the border patrol. they find the border patrol. they don't have to look at walls, censors. they are vaguely agnostic to those things. they eventually released in the general population with only 7% of those people coming back to an immigration court. some are folks that are less than desirable and they're trying to dig through the system, take advantage of loopholes.
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the root of the crisis to discourage people from ever leaving the central american countries are mexico and crossing the border, which is dangerous. the track is dangerous. these are areas where the cartel members look at and pick off these people and recruit them for additional organized crime and that hurts the entire north american economic community. charles: additional processing points outside this country, would that make a difference? >> that is interesting. certainly there has to be ways that have to be processed. if we can discourage people from ever crossing and make it more difficult or letting them know. for ute pitcher due process and if you qualify, sure we will let you in. that will be a small portion of those. none of that stuff is in the bill. yes we need a wall. yes we need sensors. yes we need more immigration.
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we need all those things. we need to do something about the children that came here by no fault of their own and all they know is the united states of america and people that grew up here among us, and americans. they also need the root cause in october missing here. charles: quickly your opinion and now officials say this group that went towards tijuana is heading for its gear areas where we have no border fences. >> that's right, charles. if you think about it, the orderly process in the san diego area.
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really because there is a lack of log and lack of organization and were not doing much about it, just go through other parts of the border. go seek in a gym. care process, give relief. that's a pretty good deal and never come back. there is a crisis. the root of our crisis we need to figure out how we solve those silly can stop the bleeding. charles: nelson, always a pleasure to talk to you. rebooting the old show unsolved mysteries. the new version will follow the format. the first season will start with 12 episodes. it aired more than 500 episodes. the pope trying to attract more millennial stew the church. we will tell you how he's embracing technology with a new prayer app. ♪
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charles: an amazing show in the sky. turning the moon red. the super blow the wolf moon
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making its appearance last night. nasa explaining the lunar eclipse turned it a read issue and it was so big because that is closest to earth in its orbit during the full moon. the next innocent until 2037 so i hope you enjoyed it. science of designing ambidextrous robot that can learn different ways to pick up objects. the system would allow for the robot to use multiple arms to analyze and decide which groups would work better for certain objects. this kind of robot can help speed up process in places like warehouses. going to start testing driverless grocery vehicles in austin this spring. the partner who scampered cisco's robo started. the vehicle will be temperature controlled so they can keep produce fresh. customers will call them on an app and it will come straight to the location. they'll then be able to shop and send the vehicle on its way. check this out.
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the pope has unveiled a new app that allows people around the world to join him in prayer. the app is called click to pray. it connects users to not only pope francis, but to each other as well and while the pope only releases one video month, users can interact with short daily prayers by, you guessed it, hitting click a prayer. facebook reportedly hit with a record-breaking fine from the feds for privacy violations. up next, we'll talk to someone who's been a critic of big tech and ask them if this potential fine could give facebook to finally change its behavior. if the government shutdown hits the one mark pen furloughed employees are really starting to feel the pain. remember, if the deal is reached by tomorrow, workers will miss another paycheck. when investment companies see more government workers withdrawn from their emergency
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funds. i've always been amazed by what's next. and still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin... i want that too. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? reeling in a nice one. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop.
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charles: markets are closed for mlk day.
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under pressure all day long down as much as 127 points on the dow futures. still about a remarkable start to 2019. our next guest is a company that helped meet your specific goals. customers affected by the government shutdown are withdrawing money from emergency funds to pay their bills. ceo john dein. just how bad is it right now? >> december was why are you withdrawing them -- we can hold hands and say you are to stay invested. the right thing to do. now we see dozens of customers withdrawing because of the government shutdown. it's probably not a safety net fund to pay their bills. charles: these aren't necessarily government workers. >> they are. if charles: they are. last week was the first check the mess. i know the range of incomes are
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widely varied amongst government workers, but that is kind of scary that if you miss one paycheck you got to dip into emergency funds. >> are minor customers to set up emergency funds for this reason. there was trying to pay those bills. they are pulling out a safety net accounts, which are not just in cash charles: are there any penalties when they withdraw this money? >> there's no penalties. the tragedy is a lot of americans don't have these kinds of safety net. charles: it's also worry some may have to use it after just one week. again, this is another week that perhaps you can see the second week government workers won't get paid. what do you think then? you've seen an exponential rise in people dipping into emergency funds. the mac we recommend everyone has six to nine months worth of than a safety net fund before
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you even start saving for the down payment on a house to retire make me want to build up a safety net for these unexpected times. charles: the regular banking and saving accounts that we advise your clients? >> you want to keep a lot of cash in your accounts. most pay nothing on interest credit checking account gets nothing. you're losing money due to inflation. near-term advances. rna coming back yet? >> analyst said best january since 1987. people ought to be encouraged. the government shutdown has people scared. people sitting on money and hoarding it in cash right now. charles: would you say that eventually the knucklehead will figure it out. >> we feel it and read the
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headlines and we all get scared. if you have the long-term goals it shouldn't affect your plans at all. charles: people should not deviate from that. if you start to deviate for a month or two or three it makes all the difference in the world, doesn't it? >> i feel it too. you read the headlines and you want to do something about it. a lot of times the best thing is to put it aside and remember for the long-term these things are not important. charles: john, appreciate it. more bad news for facebook. facing a potential record-breaking fine from the fcc for user privacy violations. matthew taylor, director of the documentary the creepy line. if facebook got hit with this big huge fine, would that send a message not just of facebook, but all those other silicon valley villains out there who've misused the information, they've abused us, mistreated us. would that get their attention? >> honestly i don't think so. another example of another company have put insanely
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massive fines, google $2.5 billion in 2017. i mean, you're talking about if your company makes $12 billion in a month, that is two weeks worth of work. the thing is with a company like facebook or google, and these are 20th century regulatory tools that work for companies that sell products like when volkswagen got hit with a $14 submission tests. it hurts those kinds of companies. the damages are at a time. your social security number in my bank account number is in the hands of various factors. if google or facebook are the topic, how big of a fine can you give them to undo the damage of someone who's bank account has been emptied. charles: the ultimate deterrent would be the customers leaving them and go into an alternative and therein lies the problem for now. >> sure.
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the problem has go back to its more fundamental than that. their business model is actually the problem. as long as they collect your data, as long as you are giving away your personal life to these untrustworthy companies, how many more data breaches do we have to have? how many were bank account numbers have to go out there before people say this is a fundamentally flawed business model. >> but it's a faustian relationship. people pour their hearts out. i've got a nephew every time he breaks up with his girlfriend we've all got to know about it. what to do with that? what part of it is our responsibility for what part of it is maybe the marketplace, some alternative coming up saying we can do something similar but have maurice back for the customer. >> sure. i think we have to rethink our regulatory tools for dealing with what is a new frontier in a new business model. just slapping fines for breaking
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them up just won't do it. the government is going to have to rethink it. the consumer will have to be more aware. they need to know when i put my child photo on facebook, it is owned, sold, package. we could get into whole bunch of things about how they work with the government or law enforcement, which is a whole other scenario facebook is dealing with now as well. >> amazon shareholders want the company to stop selling facial recognition technology. the police forces and things like that. early on it had trouble distinguishing really black americans are dark skinned people. any chance i could have been? >> i think it's rich that shareholders at are worried about civil rights and human rights. there's a lot of other things to be worried about what the amazon. a lot of these companies come and there is a certain extent for there not wrong in stating big companies like these working
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to help push technology in a certain way. you know, and the governments not even open right now so i don't know whose face they are collect team. amazon is open all the time every day. i don't see as an order that they have the follow to do this. again, this is a distracting issue to the bigger issue about how these companies function, what their business model is. i don't see it as that big of a deal. >> if they have a social responsibility in one area should it apply to another area? >> and some of them says to them and this is one technology. they're swapping people's voices and all sorts of things going on. amazon is a big company. we shouldn't stifle innovation. that's why we have to rethink how we approach this companies and how they do business. charles: brave new world.
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brave new world wasn't taken that be a great name. thank you, nokia. >> thank you for having me. google maps with an update here. there is an app that will show you how to -- how speed limits on roads where you're traveling. also if you approach a speed trap, even better. but you know the locations of speed cameras. maybe they are making nice with customers after all. also, in the oreo under fire by tribal cookie maker for some unsavory business practices. liz: wow, what a story. who knew the cookie business was so cutthroat. the owner of hydroxy followed a complaint. it is accusing the oreo is basically the parent company of foul play saying they use their own to stock the shelves.
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they push cookies to the back room of them to the shelves entirely. foul play. who knows, hydroxy versus oreo. charles: oreo saying it's called business 101. liz: they're the number one cookie. charles: all right, folks. thank you very much, liz per the race for 2020 getting crowded. we are on top of that. also, looks like we are making progress with china ahead of the talks at the end of the month. former ambassador to china says there's a big bump in the road right ahead. he'll make his case next.
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for growth. roll tape. >> he can never get back to government workers who quit their government jobs during the shut down because they explored the private sector. if that happens to any degree, people get second jobs who are not government employees and enter the real economy, does that mean real growth in the future because all the real growth in the economy comes from the error. if a particularly large portion takes advantage of the shut down and says why don't we explore real alternatives and then they succeed. that's one of the best we could possibly have for economic future. ocuvite. eye nutrition for today. ♪ ♪
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charles: new york congresswoman alexandria ocasio-cortez slamming hollywood aaron sorkin after he calls out young readers. listen to this. >> i really like the new crop of young people who were just elected to congress. they now need to stop acting like young people. i think there is a great opportunity here, now more than ever for democrats to be the non-stupid party. charles: aoc -- it is not
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because communities are apathetic. it's because they don't see you fighting for them. if we don't show up for people, why should they feel entitled -- why should you feel entitled to their vote? and then there's straight talk between united dates in china really making some serious progress. our next guest says there could be a major bump in the road. a former canadian ambassador to china. what do you see that could potentially hold a big deal here, sir? >> well, we are looking for progress by the end of february, early march. so far the chinese seem to really want a deal. the latest idea they floated as they would somehow increase u.s. exports to total something like a trillion dollars by 2024, which would eliminate the trade deficit. they want to buy their way out of the problem. sending a very senior person to washington to see if they can make progress before the chinese new year break.
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but in the meantime, canada continues to feel the heat of chinese anger over the detention of the cfo of huawei, kristina young. and the next week or so we should hear an official request from the u.s. to have extradited to the u.s. to face charges. should that happen, and it is really hard to believe that would not in some way impinge on the trade discussions. the chinese would seek some concessions from the united states, for example, letting ms. mungo in exchange for a deal. charles: it is interesting because so far to the amazement of many people, both sides it feels have been able to compartmentalize and it feels like the american and chinese negotiators have stressed about is perhaps a separate issue. more so up to seven countries,
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mostly western countries have also made their words and can earn about huawei public. >> that's right. that will continue as long as chinese think they can keep these issues separate. once they face trial for something like defrauding foreign banks, and that's the allegation. then i think all bets are off. china has two problems. one is a political problem. chinese people will not want to see someone who is a corporate hero. she's corporate royalty in china. in the continuing damage to huawei that make them out on a trial is seriously costly to china. i find it really hard to believe that they can keep these two issues separate forever. charles: i do want to ask about a canadian citizen sentenced to
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life and where does all that stand right now? >> it's concerning and thanks for raising it. two canadians detained on very serious charges in the third individual who had been convicted of drugs modeling and given a 15 year sentence, essentially he was retried late in the year on four days notice the trial lasted an hour and he was given a death sentence. we have to see this as yet another chinese effort to pressure canada who right now she can go shopping during the day pitch he can go home from 11:00 p.m. to 6:00 a.m., but otherwise is living a very comfortable life. we are taking a lot of heat from the chinese. charles: thank you very much, mr. ambassador. we will speak to you again very shortly about this. thank you for coming on this
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morning. now to some 2020 news. democratic senator kamala harris is now officially in the running. then the video that you see right here on your screen. accompanied by a short tweet saying i am running for president. let's do this together. a lot of high school students in this country are graduating without knowing the basics of finance for how to handle their own money. the carolina lawmakers plans to change all of that and he joins us next. ♪ i am a family man.
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i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome.
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charles: our next guest is spearheading a bill that would require high school students to take a course on personal finance before graduating. , named luke rankin. senator, exactly what are you proposing here? >> well, good morning. in south carolina in 2006, we adopted a financial literacy goal, which unfortunately we have not really put into practice by requiring testing on
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whether high school graduate had developed some proficiency in financial management. without a doubt in the u.s. we've got an incredible personal debt problem, student loan problems. the onslaught of free and easy credit that we get in the mail on tv, the internet, what's in my wallet, what's in your wallet, on and on and on, we need to teach our citizens here as other states have done how to and what not to do regarding financial literacy. checkbook management, personal debt, on and on it goes. so the idea here is to require testing before the end of the graduation program to develop people who are better students and better citizen so that they will not fall prey to the trap of so much that we have effectively in america and in
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the sense of free and easy credit don't worry about it a later. we know that is not the way to do it. charles: and effect is that the revival of the home economics courses? >> well, home-equity and i am 56 has a little bit of a different connotation. but it is effectively not simple requiring a rigorous curriculum from our teachers as well as a standardized testing in the basic management of how to manage money. and so, affect the way home mac would be a good idea. not for economics, but to make it more practical. >> is this something you would do in the 12th grade and get your high school diploma? >> it would be in and of course test as we have credits in our state now. this would strengthen the social's daddies and economics
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piece that would require a test to show some level of, again, proficient be. it's an idea to make it practical what were doing now. charles: i think it's a great idea. i will caution of course i don't know that we've ever been at the height of consumerism and materialism and at the same time where we are right now and the pressure on these kids who can afford a $500 gucci belt buckle and those kind of things are extraordinary. perhaps any help we can get. government should be the one sending the message considering the amount of debt we have. i appreciated and i think the audience does, too. five seconds and a final word. >> well, thank you. south carolina can join other states have gotten an a in the subject. i hope we do. charles: it's a great idea. thank you for a much we appreciate it. a new study that looks at what cities have the happiest workers and the most miserable.
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we will tell you which one came out on top right after the break. r. ♪ there goes our first big order. ♪ 44, 45, 46... how many of these did they order? ooh, that's hot. ♪ you know, we could sell these. nah. ♪ we don't bake. ♪ opportunity. what we deliver by delivering. do i use a toothpaste that whitens my teeth, or one that's good for my teeth? now i don't have to choose. from crest 3d white, the whitening therapy collection with new spearmint and peppermint oil. it gently whitens, . .
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charles: before the break, we asked, we want you to guess the city with the happiest employees. according to new study. the answer is miami. followed by los angeles, raleigh, north carolina, louisville, kentucky and omaha, nebraska. on the other end of the spectrum. most miserable city, new york city. oakland, houston, dallas. what do you think about the validity. >> most of where my exes live. no wonder -- i never thought new york city would be up there. charles: really, you didn't? it's a tough place. for me i have an hour commute on lucky day. it is -- >> that sense i guess you're
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right. i would have named all the cities in canada most miserable. kidding, kidding. charles: there goes the canadian demo. markets are not open. futures are. we have a lot of breaking news. neil cavuto can take it from here. neil: i wonder how they ask people that. how are you doing at work? how do you like living -- i'm miserable! charles: new yorkers don't mindshareing their opinions, right? neil: god forbid i'm okay. i have my suspicions. thank you, buddy, very, very much. is it me or is this market not budging? that's right, it is closed. we're open for business. the futures are down. big concern for the futures as it has been are to the world markets, most of which are open, the idea china is slowing down. if you're a regular viewer of the show, we've been talking about this for some time, even if we cobble together a trade deal with the chinese, they might not have the muster to make food on commitments


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